Tag Archives: gap

ES Rallies to April High, Fills Gap, Leaves Poor Low in Market Profile Chart

Coming into Monday’s regular session, overnight inventory was net long, in addition to long inventory from the previous regular and Globex sessions.

Price staged a low volume rally on the open, trading above Friday’s upper balance from its “P” shaped distribution on the Market Profile chart, filling the gap from 5/16.

short covering rally to prior monthly high

After leaving an early poor A/B high, price chopped around above and below Friday’s high through E period and left a poor A/C period low before eventually trading higher to just two ticks below the April high in M period. The point of control migrated higher with price, value was also higher on the session.

Price remained below April high (inside month) at 2394.75.

Monday’s pullback low at 2389.75 could be of little significance due to the very small range for the day (less than 9 points), but if price opens near and finds acceptance below the POC at 2391.75 on Tuesday that level could provide short term support, although the focus and destination could be on the poor low at 2385.00.

If the market finds acceptance below the poor low there is plenty of recent poor structure below in need of repair –

– Friday’s (5/19) late pullback low at 2378.00 was exactly at the overnight high from that session
– Seven points of excess single prints from Friday’s opening period
Multiple un-repaired anomalies from the 5/18 market profile chart around 2363.50, 2361.75, 2358.75.

Price acceptance above 2394.75 (April high) targets the back to back prominent points of control at 2398.75 from 5/15, 5/16 and could potentially test the recent all time high at 2404.50.

ES Gap Fill Near Prior Monthly High

Note: At the time of this posting there was a potential terrorist attack in Manchester, England, and more “alternative facts” and obstruction of justice allegations from US President Trump reportedly leaked. Significantly emotional events could cause severe volatility in global markets.

(the above, post and all posts on es-traders.com, is an interpretation of market generated information using the Market Profile, and the information contained within is to be used for informational purposes only and not to be construed as investment or trading advice. DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS WEBSITE. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the “SEC”) or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. Please read our disclaimer)

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ES Gaps Open Higher, New All Time High




ES balance at all time high

The ES gapped open higher from Friday’s very small 5 1/2 point trading range. A slow grind higher took price to another new all time high (June contract) at 2402.25 in D period, but failed to reach the Globex all time high at 2403.75.

Value was clearly higher from the prior session with price one timeframing higher through the first four 30 minute periods before balancing for the remainder of the low volume, slow paced trading session. The wider the POC forms the harder it can be for price to trade away from it. Monday’s POC hovered around 2400.00 from the 5th period on, ending the session 10 TPO’s wide at 2398.75.

If the market opens inside the range on Tuesday, the wide point of control could be an important early short term reference.




Acceptance above Tuesday’s POC, or fairest price, targets the all high at 2402.25 and potentially challenges the Globex all time high from May 7th at 2403.75. While they can last for some time, all time highs made in the Globex session have always been revisited during a U.S. regular trading hours session. It doesn’t have to happen, but historically it always has.

The pullback low at the J/K, L, M and N periods were all within a tick of one another, showing very mechanical buying in that area. Price acceptance below Monday’s POC should easily test that level, trading below it could trigger any stops, putting price into the excess single prints from A period with the potential to test Monday’s low and gap fill from Friday at 2390.00.

Market Profile references below Friday’s high are the very prominent naked point of control at 2386.75 and poor low from May 11th at 2379.00.

(the above, post and all posts on es-traders.com, is an interpretation of market generated information using the Market Profile, and the information contained within is to be used for informational purposes only and not to be construed as investment or trading advice. DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS WEBSITE. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the “SEC”) or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. Please read our disclaimer)

from May 7th

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